Hims & Hers Health, Inc. (NYSE:HIMS) Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 745,800 shares of the company's stock after acquiring an additional 45,800 shares during the quarter. State of Michigan Retirement System owned about 0.34% of Hims & Hers Health worth $22,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in Hims & Hers Health during the 1st quarter worth approximately $325,000. Alps Advisors Inc. acquired a new stake in Hims & Hers Health during the 1st quarter worth approximately $306,000. Allworth Financial LP increased its position in Hims & Hers Health by 20.0% during the 1st quarter. Allworth Financial LP now owns 2,006 shares of the company's stock worth $56,000 after purchasing an additional 334 shares in the last quarter. True Vision MN LLC acquired a new stake in Hims & Hers Health during the 1st quarter worth approximately $267,000. Finally, Main Street Research LLC acquired a new stake in Hims & Hers Health during the 1st quarter worth approximately $210,000. Institutional investors and hedge funds own 63.52% of the company's stock.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 17,102 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total value of $1,021,844.50. Following the transaction, the insider directly owned 278,654 shares in the company, valued at approximately $16,649,576.50. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 23,107 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the sale, the chief financial officer owned 63,222 shares in the company, valued at approximately $2,987,239.50. This trade represents a 26.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 670,250 shares of company stock worth $34,487,591. Company insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HIMS. Piper Sandler reissued a "neutral" rating and set a $39.00 target price (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. TD Cowen cut Hims & Hers Health from a "buy" rating to a "hold" rating and decreased their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Bank of America upped their price target on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. UBS Group set a $30.00 price target on Hims & Hers Health in a report on Monday, June 23rd. Finally, Wall Street Zen cut Hims & Hers Health from a "buy" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and an average target price of $39.58.

Hims & Hers Health Stock Down 4.7%

Shares of Hims & Hers Health stock traded down $2.36 on Friday, hitting $47.91. 18,925,676 shares of the company's stock traded hands, compared to its average volume of 23,837,558. The stock has a market cap of $10.72 billion, a P/E ratio of 69.44, a PEG ratio of 1.85 and a beta of 2.02. The firm's 50-day moving average is $53.68 and its 200 day moving average is $40.96. Hims & Hers Health, Inc. has a 52-week low of $13.47 and a 52-week high of $72.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $586.01 million during the quarter, compared to analysts' expectations of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The business's revenue was up 110.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. Equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.